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Havish Gupta
Figuring Out • 8m
Meet Awfis, the King of Coworking Spaces in India! Awfis was started in 2015 by Amit Ramani, Sumit Lakhani, and Manu Dhir and is headquartered in Delhi. The idea was simple: just buy, lease, or rent workspaces and then rent them to others for short or long terms. The offices are greatly renovated and provide a pleasant working environment where you can meet many different people and make connections. With this idea in mind, they started their first office in Mumbai in 2015 and expanded to Delhi, Bengaluru, Pune, and Hyderabad by the next year. In 2017, they raised a major round securing $20 million from Sequoia Capital. However, with WeWork entering India in 2017, the competition became intense. To fight this, they first expanded to more cities and opened more centers in existing ones. Secondly, they partnered with big corporations like Byju's and Tata Motors, providing them with office space. In May 2024, they also went public with a $72 million IPO. Today, in terms of office spaces, Awfis is the largest coworking company in India, with over 131 centers across 14+ cities. They have raised a total of $240 million and stand at a $540 million valuation. They boast $100 million in revenue with a mere $2.5 million loss. What do you think?
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